PRESS RELEASE

LightSquared Has Now Signed More Than 30 Wholesale Customers

RESTON, Va., December 9, 2011 – LightSquared™, a wholesale carrier building a nationwide wireless broadband network that will create consumer choice and drive industry innovation, has reached a significant milestone: more than 30 customers have signed wholesale agreements with the company.

The domination of the 4G-LTE market in the U.S. by two incumbent carriers is fueling the market demand for an alternative low-cost, high-quality nationwide wireless broadband network that will allow many industry participants to remain or become competitive – and LightSquared is increasingly being seen as the solution for that demand.

LightSquared’s unique integrated cellular and satellite network, combined with a game-changing wholesale-only business model, is allowing existing wireless carriers as well as new companies to enter the 4G-LTE market and deliver world-class wireless services at affordable rates for consumers and businesses.

“Even as LightSquared’s network has been delayed by the ongoing process in Washington, dozens of American companies – big and small – continue to seek access to our network,” said LightSquared Executive Vice President Frank Boulben, who leads the company’s strategy, marketing and sales efforts. “These contracts demonstrate the magnitude of the pent-up market demand for an alternative wireless broadband solution. LightSquared’s success is not just about LightSquared. It’s about enabling the success of other companies as well.”

By offering network capacity at extremely competitive wholesale rates, LightSquared has opened up the wireless broadband market to a diverse group of companies looking to introduce or expand their wireless offerings. These customers range from major wireless companies like Sprint to regional carriers such as Leap Wireless and C Spire to rural carriers such as SI Wireless. National retailers such as Best Buy and online retailers like Simplexity have signed on. Other customers include digital services companies like Elevate, as well as regional wireline players across the country such as PowerNet Global and EATEL, which are now able to offer the affordable wireless services that their customers are demanding.

LightSquared has also sparked the development of new, non-traditional companies like Smarter Car, which will connect cars with drivers and dealers, and m-banco which is creating mobile wallets for the “unbanked” population in America. FreedomPop, a disruptive new company spearheaded by Skype co-founder Niklas Zennstrom, will offer free broadband and voice services to all Americans. In addition, LightSquared is also partnering with global consumer products company Sharp to develop a range of innovative LightSquared-enabled devices for LightSquared’s 4G-LTE wholesale customers.

With studies showing that broadband use in many states remains low, LightSquared’s partnerships with many of these companies will improve access to underserved communities across the country and help contribute to the U.S. government’s goal of making broadband available to 98 percent of Americans within five years.

“Companies, from well-known brands to innovative start-ups, are seeking a competitive source of wholesale 4G-LTE capacity, and for many of them, delivering wireless broadband services would not be an option without LightSquared,” said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. “Imagine a wireless industry that fosters innovation, competition and entrepreneurship, and connects those on the wrong side of the digital divide. With a unique business model and competitive wholesale pricing structure, LightSquared is poised to make this a reality, and we’re thrilled that such a broad and diverse group of companies is joining us on this journey to transform the wireless landscape.”

LightSquared’s wholesale customers represent a cross-section of industry. For example, YourTel America can now offer high-speed wireless devices at affordable prices to low-income customers. Red Pocket Mobile, a leading MVNO, will use LightSquared’s network to deliver no-contract mobile broadband services to millions of consumers nationwide. AirTouch Communications can now offer their telecommunications products bundled with connectivity through LightSquared’s network. Soundtracker, a geosocial Internet radio company, is revolutionizing the way mobile music is delivered, giving consumers access to more than 11 million songs, regardless of location.

Several of LightSquared’s customers are new companies that have developed innovative business models around LightSquared’s wholesale network. These companies are testament to LightSquared’s mission to democratize the U.S. wireless market, enabling entrepreneurs to develop wireless value propositions for their customers that were not possible ever before.

More information on LightSquared’s customers can be found on the Partners page on LightSquared.com.

About LightSquared

LightSquared’s mission is to revolutionize the U.S. wireless industry. With the creation of the first-ever, wholesale-only nationwide 4G-LTE network integrated with satellite coverage, LightSquared offers people the speed, value and reliability of universal connectivity, wherever they are in the United States. As a wholesale-only operator, LightSquared will deploy an open 4G wireless broadband network to be used by existing and new service providers to sell their own devices, applications and services – at a competitive cost and without retail competition from LightSquared. The deployment and operation of LightSquared’s network represent more than $14 billion of private investment over the next eight years. For more information about LightSquared, please go to www.LightSquared.com, www.facebook.com/LightSquared and www.twitter.com/LightSquared.

This release contains forward-looking statements and information regarding LightSquared and its business. Such statements are based on the current expectations and certain assumptions of LightSquared’s management and are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate only to information as of the date of this release. LightSquared has no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release, nor is there any assurance that the plans or strategies discussed in this release will not change.